Sometimes Symbolism is Everything

If your brother-in-law showed up at your house looking to borrow a ton of money, and as he was talking you noticed his Mercedes Maybach in the driveway, you might not be too sympathetic to his cause, would you?

That's pretty much what happened yesterday in Washington, D.C. The leaders of the Big Three automakers came to Washington looking for their share of the federal government's bail out money. Each of the leaders flew to Washington in their respective company's private, corporate jet. The cost of these individual flights are estimated to be $20,000 each - and that does not even take into the consideration the environmental impacts.

Strong, effective arguments have been made about the use of corporate jets. Warren Buffett railed about them for years until he actually used one, and then he had an epiphany: An executive's time is better spent being whisked in and out of airports so he or she can focus on making major, money-making decisions.

An argument can also be made that politics focuses too much on the symbolic. President-elect Obama's campaign was almost derailed by the flag-pin-on-the-lapel controversy, for instance.

But in this case, Congressman Gary Ackerman was correct to point out the Big Three executives' collective hubris. We get that the automakers are hurting, and that the demise of these companies will lead to the demise of many others. We're all hurting. Wouldn't a demonstration that the executives are feeling that pain have been the proper thing to do? Can you blame Congress for turning its back? Would you lend money to someone tooling around in a Maybach?